Finance for Restaurants | Food Newsfeed
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Finance

Data: Gift Card Spend on the Rise

The average consumer is spending $59 more than the original value of their gift card, up $21 from 2017, according to the 2018 Prepaid Consumer Insights Study released by First Data today. The report shows significant lift is being generated from gift card spend and continues to highlight a year-over-year branded currency growth trend; for the fifth consecutive year, when purchasing with a gift card, consumer overspend has increased.

Red Robin Wants to Get Back to Being Red Robin

While Red Robin took steps to improve its service and marketing strategy during the third quarter, the results were still disappointing for the company, even with new training and systems in place. Chief executive Denny Marie Post said, “for now, we are, by no means, pleased with our performance through Q3, we are heartened by the energy and commitment of our teams as we have reengaged all of our frontline leaders and team members to regain our operational edge.

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Ashley Davis Photography

Trim Food Waste, Trim the Bottom Line

At Denver-based chain Snooze, food waste reduction is a multipronged effort. There is only one trash bin in each kitchen with multiple compost bins posted at each workstation. A quinoa bowl on the menu uses a ham broth that’s actually a byproduct of roasting pork overnight.